The Managers of a Company's Pension Fund Invest the Monthly

Multiple Choice

The managers of a company's pension fund invest the monthly employee contributions of $90,000 into a government fund paying 8.7%, compounded monthly.To what value (rounded to the nearest
Thousand) will the fund grow in 11 years?

A) $19,813,000
B) $19,818,000
C) $19,799,000
D) $19,792,700
E) $19,792,000